CommonSenseEconomics

Econ & personal finance curriculum: includes CSE textbook and a course package of assignments, discussion boards, quizzes, tests, videos, audios, & more!

[CommonSenseEconomics @CommonSenseEco]

Do you own a business? Have you ever made a loss in a given month? What did you do the next month to make a profit?

[CommonSenseEconomics @CommonSenseEco]

@artcarden explains how the role of #ProfitsAndLosses work to direct an economy in this @mises article: https://t.co/gxaH1ANtkY

[CommonSenseEconomics @CommonSenseEco]

Professor Daniel Smith explains the important role that #ProfitsAndLosses play in our economy in this video by @LearnLiberty. https://t.co/QHt2MTZ5fA

[CommonSenseEconomics @CommonSenseEco]

Concept of week: #ProfitsAndLosses. CSE excerpt: “Losses direct businesses away from wasteful activities that reduce resource value.”

[CommonSenseEconomics @CommonSenseEco]

Concept of week: #ProfitsAndLosses. CSE excerpt: “Profits direct businesses toward productive activities that increase value of resources.”

[CommonSenseEconomics @CommonSenseEco]

Deficit spending can be appealing to politicians but it’s a prime example of what economists call the shortsightedness effect. It’s important to understand the national debt and what it means for our economy!

[CommonSenseEconomics @CommonSenseEco]

Crony capitalism falls under the umbrella of shortsightedness. Crony capitalism takes place when politicians favor private companies, which distorts the market & also puts the U.S. deeper into debt. If this interests u, read this article by Joseph Connors! https://t.co/gdOO1gMB0g

[CommonSenseEconomics @CommonSenseEco]

Have you ever wondered how much debt the United States carries, partially due to political incentives and the shortsightedness effect? Watch this quick clip where Professor Antony Davies graphically illustrates the size of the U.S. debt.
https://t.co/0pzdYHql4H

[CommonSenseEconomics @CommonSenseEco]

Concept: shortsightedness effect.
James Buchanan: “The attractiveness of financing spending by debt issue to the elected politicians should be obvious. Borrowing allows spending to be made that will yield immediate political payoffs w/out incurring any immediate political cost.”

[CommonSenseEconomics @CommonSenseEco]

At a worksite in Asia, Milton Friedman asked why workers use shovels instead of modern machinery. Gov official responded: U don’t understand. This = jobs program. MF replied: Oh, I thought u were trying to build a canal. If it’s jobs u want, u should give them spoons, not shovels

[CommonSenseEconomics @CommonSenseEco]

Give this podcast a listen during your commute or when you work out! Dwight Lee will help you have a better understanding of why the government shouldn’t simply be creating jobs, but creating jobs in which people will produce wealth.
https://t.co/uK7jQR7hyt

[CommonSenseEconomics @CommonSenseEco]

Watch this video of Professor Ben Powell explaining that jobs are important, but they need to be productive jobs that create value.
https://t.co/7cJTwBFMxK

[CommonSenseEconomics @CommonSenseEco]

Let’s talk about jobs vs. the creation of wealth! CSE excerpt: “While employment is often used as a means to create wealth, we must remember that it is not simply more jobs that improve our economic well-being but rather jobs that produce goods and services people value.”

[CommonSenseEconomics @CommonSenseEco]

Concept: shortsightedness effect. Borrowing allows spending that yields immediate political payoff w/out incurring immediate political cost

[CommonSenseEconomics @CommonSenseEco]

#PublicGoods #FreeRiders #Economics

[CommonSenseEconomics @CommonSenseEco]

Take a look at this interesting @Econlib article about #PublicGoods and externalities by Dr. Tyler Cowen! https://t.co/wHhCszysd3

[CommonSenseEconomics @CommonSenseEco]

Here’s a video that explains the 2 necessary characteristics of public good!
https://t.co/62GswsQQaV #PublicGoods

[CommonSenseEconomics @CommonSenseEco]

Concept of week= #PublicGoods. Public goods have these 2 characteristics: 1) jointness in consumption and 2) nonexcludability.

[CommonSenseEconomics @CommonSenseEco]

That awkward moment when…

[CommonSenseEconomics @CommonSenseEco]

This @Econlib article by Bryan Caplan thoroughly describes how externalities impact the market: https://t.co/YT0pfUTvkX. Your thoughts?